Professional Documents
Culture Documents
ON
Muslim Commercial Bank Ltd
MCB S PERFORMANCE IN COMPETITIVE BANKING SECTOR & ITS PRODUCTS & SERVICES AT MCB PA
KISTANI CHOWK BRANCH LARKANA
AUTHOR
SHAFEEQUE REHMAN MEMON
ROLL NO: 02
M.COM (FINAL)
MASTER OF COMMERCE
SESSION 2008 2009
The report is being made for the fulfillment of course the course No: 600 Busine
ss Internship Report of M.Com (Final).
The Business Internship is prepared on MCB s performance in competitive banking sec
tor & its products & services at MCB Pakistani Chowk Branch Larkana.
I would like to thank the following people at MCB Pakistani Chowk Branch who pro
vided me help to learn as much as possible during a short span of time.
Mr. Nazeer Ahmed Shaikh (Branch Manager)
Mr. Aamir Ali Mangi (Operation Manager)
The Business Internship Report is prepared under the supervision of Professor Dr.
GHULAM MURTAZA MAITLO Chairman Department of Commerce, Shah Abdul Latif Universi
ty Khairpur, Mir s.
I would like to extend my gratitude s to my teacher for his advice, encouragement
and valuable suggestions which made it possible for me to complete my Business I
nternship Report.
The purpose of research work is to analyze the organization and the performance
of MCB Ltd. since 2008-09. This Business Internship Report is prepared on MCB s per
formance in competitive banking sector & its products & services . The Business In
ternship Report contains Executive Summary, Introduction, History of MCB Ltd, Pr
oduct & Services of MCB.
During the Internship, I worked in various operations as general banking includi
ng cash operation, clearing remittances, ATM, account opening procedure and adva
nces. The bank will have to work hard and to meet the challenges of competition
and to satisfy the customer to accelerate the business.
In this report primary and secondary data is used. In primary data the informati
on is collected by getting briefings from Branch Manager and from the Operation
Manager and in secondary data published literature of MCB and the electronic dat
a on MCB s website.
II | business internship report
MCB S PERFORMANCE IN COMPETITIVE BANKING SECTOR & ITS PRODUCTS & SERVICES AT MCB PA
KISTANI CHOWK BRANCH LARKANA .
TOPICS PAGE #:
Acknowledgement I
Abstract II
Table of Contents III
Executive Summary 01
? About MCB 01
? Our Vision and Mission 02
? Vision Statement 02
? Mission Statement 02
Introduction 03
? Achievements 03
? Company History 03
Main Departments and Their Jobs 04
? General Banking 04
Remittance 04
Pay Order 04
Demand Draft 04
Mail Transfer 05
Telegraph Transfer 05
Payment of Pay Order and Demand Draft 05
Cancellation of Pay Order and Demand Draft 05
Vouchers 05
Inward Clearing 06
Outward Clearing 06
Token 06
Issuance of Cheque Books 06
Issuance of ATM Cards 07
Cancellation of ATM Cards 07
Sale of RTC 07
Short Notice Term Deposits 08
Amount, Rate, Number of Days / 365 Days 08
Call Deposits 08
? Foreign Exchange 08
LC S Establishment 08
Payment or Retirement 08
III | business internship report
Foreign Currency Deposits 08
Foreign Remittances 09
? Advances / Credit 09
Basic Banking Account 09
? Pak Rupee or Foreign Currency Account 10
Saving Account 10
MCB Rupee Maximizer Account 10
Current Account 10
Khushali Bachat Account 10
MCB Enhanced Saving Account 10
MCB s Partners in Bill Payment 11
Investment Banking 11
About Remit Express 11
Features 12
Personal Loan 12
Products and Services 12
? On-line 12
? MCB Full Day Banking 12
? 365 12
? MCB Special Rupee Term Deposits 12
? MCB Lockers 13
? MCB Remit Express 13
? MCB Islamic Banking 13
? MCB Cards 13
? Cirrus 13
? Maestro 13
? MCB Virtual Internet Banking 13
? MCB Call Centre 14
? MCB Mobile Banking 14
? MCB ATM 24-Hour Cash 14
? MNet 14
? MCB Smart Cards 14
? MCB Easy Bill Pay 14
? Corporate Financing 14
? Instant Financing 14
? MCB Rupee Travelers Cheque 15
? MCB Business Sarmaya 15
? MCB Pyara Ghar 15
? MCB Car4u 15
Six Years Progress 16
Balance Sheet 18
Profit and Loss Account 19
Cash Flow Statement 20
Statement of Changes in Equity 22
Conclusion 24
Recommendations 25
Bibliography 26
Copy Right 27
IV | business internship report
ABOUT MCB
MCB (Formerly Muslim Commercial Bank Ltd.) is the largest private sector bank in
Pakistan. The Adamjee group incorporated in 1948. It proposed during the 1950 s a
nd 60 s. In 1975 it was nationalized with all other private sector bank. Then 1991
it was privatized. Since the bank has been headway in improving of technology.
In the year 2006 bank name was changed to MCB Limited. The bank is now included
as one of the top most bank of the nation.
MCB has been awarded as a Euromoney Award 2008 for the "Best Bank in Asia" The C
hairman of MCB is Mian Mohammad Mansha and the President / CEO is Mr. Atif Aslam
Bajwa. MCB is one of the leading banks of Pakistan with a deposit base of about
Rs. 280 billion and total assets of around Rs.300 billion. Incorporated in 1947
, MCB soon earned the reputation of a solid and conservative financial instituti
on managed by expatriate executives. In 1974, MCB was nationalized along with al
l other private sector banks. The Bank has a customer base of approximately 4 mi
llion and a nationwide distribution network of 1,026 branches, including 8 Islam
ic banking branches, and over 300 ATMs, in a market with a population of 60 mill
ion. During the last fifteen years, the Bank has concentrated on growth through
improving service quality, investment in technology and people, utilizing its ex
tensive branch network, developing a large and stable deposit base.
I have learnt a lot in Pakistani Chowk Branch about Opening of Accounts, Clearin
g and Transferring of Cheques, Issuing the Cheques Books, Demand Drafts other Do
cuments etc. The exposure has given me a lot of knowledge especially about consu
mer banking operations in branch. Bank was previously working on MIB s software. I
n the year 2004 bank introduced new latest software SYMBOL . Now most of the branch
es located in Karachi, Lahore and Islamabad regions are working on SYMBOL softwa
re. MCB is the leading entity of the country that has always been at the forefro
nt of economical, technological, financial growth and stability.
Banking industry is one of the fasting growing industries of the last decade. We
have seen many ups and downs in the banking industry. This is the requirement o
f Shah Abdul Latif University to do Eight Weeks Internship in any organization t
o gain practical exposure of the theoretical aspects studied in the semesters.
MCB is one of the leading banks of Pakistan with a market share of 12.5%. It is
also the pioneer in innovative consumer banking in Pakistan. It is the largest p
rivate sector bank in Pakistan. It is the most preferred provider of quality fin
ancial services and is usually considered the best place to work. It has develop
ed a large stable deposit base. The bank today boasts of largest online branch a
nd ATM network in the country.
ACHIEVEMENTS
MCB is the only bank in Pakistan that has achieved 7 Euro Money Awards and 5 Asi
a Money Awards for being The Best Domestic Commercial Bank in Pakistan , along with
several other Awards including the Best Trade Finance of Pakistan for two conse
cutive years. These accolades are the proof of our consistent effort in providin
g the customers with utmost care and quality.
COMPANY HISTORY
Muslim Commercial Bank Limited. (MCB), the largest private sector bank in Pakist
an. Incorporated in 1948 by the Adamjee group, MCB soon earned a reputation of s
olid and conservative financial institution. During the 1960s the bank grew rapi
dly with a concentration on trade finance products. In 1947, MCB was nationalize
s along all other private sector banks. MCB was the first bank to be privatized
in 1991 during the Nawaz Sharif s government financial sector deregulation policie
s. During the first five years, the private management concentrated on growth ut
ilizing its extensive network of branches and developed a large and stable depos
it base. Since privatization, the bank has made tremendous headway in improving
the operational efficiency through human resource development and employment of
technology. The bank today boasts the target online brand and ATM network in the
country.
MCB s main focus remains on consumer banking and its growing reputation as a full
service provider gives the bank an edge in front of increased competition in the
banking sector in Pakistan. With a network of over 1200 branches and a team of
dedicated professionals, MCB with an international outlook and a regional focus
ensures prompt customer service and innovative solutions to business and persona
l needs.
? CIRRUS
MCB Smart Card and ATM card holders can avail cash withdrawal facility at over 9
00,000 ATMS worldwide.
? MAESTRO
MCB Smart Card and ATM card holders enjoy the convenience of shopping at over 5
million POS locations globally.
? MCB VIRTUAL INTERNET BANKING
MCB provides the convenience of banking on the internet. Whether at office, home
or traveling log on to www.mcb.com.pk and enjoy 24-hour access to all your acco
unts at MCB for the largest array of services.
1. Training can be provided with job rotations so each of the employees is capab
le of doing others work in case of emergency, this will ensure no delays are met
.
2. As MCB earning a lot of profit stock options should be given to every employe
e.
3. Workers need more computer training.
4. MCB need to invest more in technology and bring all banking procedures up-to-
date.
5. They should implement advance technology and make it one window shopping or o
ne window service where each teller is capable of handling every transaction for
example payments, deposits, transfers, bill payments, foreign exchange, ATM car
d issue and opening of new account. This will make MCB more proficient in custom
er service.
6. ATM network needs to be updated more to handle transfers, deposits, bill paym
ents and print statements. This will free up a lot staff time.
25 | business internship report
1. News Letters
2. Magazines of MCB
3. Annual Report of MCB 2008
4. Website: www.mcb.com.pk
5. Review of President of MCB 2004 Page No: 08 to 12
6. Personal interview with Nazeer Ahmed Shaikh (Branch Manager)
7. Personal interview with Aamir Ali Mangi (Operation Manager)